REGISTERED COMPANY NUMBER: 03865537 {England and Wale5) REGISTERED CHARITY NUMBER: 107869 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 DECEMBER 2025 FOR PEMBROKESHIRE VOLUMTARY TRANSPORT Bevon Bu¢kland Ltd Chart*rpd Accountants 45 High Street Haverfordw85t Pembrokeshi SA61 2BP
PEMBROKESHIRE VOLupifARY TrANspoirr CONTEiifs OF ThE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Pa9e R•port ofth• Truste 1 to 5 Ind•nd¥t Examln•rfs R•port Statement of Flnancial A¢tivltle8 Stat•m•nt of Finanei•l Ptssillon Not•s to th• FlnancSal Statsmvnts 9 to 15 Dètail•d St•t•m•nt ot Flnanclal Actlvllh8 16 10 17
PEMBROKESHIRE VOLUNTARY TRANSPORT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The trustges are also directors of the charity for tha purposes of Ihe Companiès Act 2¢J)6. present their report wth ths ffinancial ¥talements of the charity for the year end8d 31 Decèmber 2025. The tnJ8tees ha adoptsd the prowsions of Accountitvj and Reting by Charities.. Statement of Recomm8ndgd Practice applicable to ch¥ritie¥ preparing thgir accounts in accordance vilh the Financial Rèporting Stsndard appllcablo In tho UK and Republic of lrnland {FRS 102) {effective 1 January 20191. OBJECTIVES AND ACTivrriES Chalm)8n's Report The Fflècsi S8Nce continues to operats 2 minibu3es in NW Pembrokèshire under a SLA beiw••n pwr and PCC. These buses cover a high mileage and are now becoming irKreaslngly unr8liabl8 Bnd costjy to r8P8ir After numerou$ dIs$S1S taking place bethon W, PCC and TFW rt has bèan admsed that the h[do5 will rwaced in th6 second quartor of 2026. TFW wll be moving tow8rds a new Bus Franchising Mod•l in 2026 with sOutht Wales belng the first area (lesl bed) to move over to this system. This will include the Fflecsi service end pwr aro in nSUltatiOn with TFW, ak)NJ PCC, to see how this may b8 lrnrlomented. and wh•thèr it will bg wable for a small Communlty (knrator such as to bKI for the franthise. An issue came lo IKdht therety the Fflecsi drivers had b&an woNing an'addltional hdiday payrnnt in their pay whlch from Ihe l91n81 Fflecsi Trfal Contract and covered variance in hours MY)rk8d before the set FKJurs eontred was agreed. The trust8s agreed that 3 months would bg a reasonable perfod of notica to that thi5 payment would cea88. Tma NomTrn sent 8 yltn ¢ommunication to the drlvarn è4)18ining the issue and othsing that the Paent would caase 31Xh Seplembfjr 2025 and thero 1)uld be no r&dalm by W of sysvious PayTnenls made. An annual increase of 3.5 parcènt W85 aeed for W stsff and %%ith the FI181 drivers pay Iner$45ing to £13.05 por tsjur. an increase of 32p whlch brings tham into lin8 Wth the PCC Fflecsl drlvars. The My Travèl Pass scheme has baèn adopted which enabl&s cheap travel f<¥ younger Peo8. Th& tickèt machines have been updatod on both Fflecsi bu88s and clBlmba¢ks wll be pmcessed on o monthly b8818 by Anthew Llowl thtr Ffl1 Co-ordinator Tho Mamorandum of Undorstanding b8tw•èn PVT and RVS ha6 boen rgnowed funding having been ob181nod by RVS from PernbrokeShS County Council to continue the RVS County Cars Wheelchair Acc8&8ible SeNce for another y8¥r. PCC also grant P vrith a mileage allowance to halp fund this s8r¥i This partnershlp, %thore RVS SUpY the Volunta•r Drivws and W sUpY the Whè8leh8lr A¢cessible Vehicles and thè Bookings Officor. cLntinues to S88 a rise in denwnd and 15 grgavy appredated by tha cliants vtho use it. As yth all organisalions reliant on volunteers. 11 doès present its challenges. but pvt have a core of highly cornmitted RVS Volunte&r DrirS and a Co-ordinator, hava gnobl$d in e$S of 70 booking$ por rynttt throughout th8 last y8ar. In April, 8ri8n Hough, the Company Setretsry l Trea3urer suffered a serfous Illnèss and made the reluctant decision to retire from both posrfions. A retirement dale of 31108]2025 WB8 agreed beknn Brian and th¥ tru$tees, and an interim proc888 put in plac£ to cover both roles. Peter Par80ns (Trustee) aora•d t¢ meet vith Brian on A regular basis to und8rstsnd th8 complety of the financk?I processes developed by hlm over many or8. 11 was agread that a ph8s8d handover Uld be bast wlth Initi811y the invoicing for the separate bu$ln•$s artt8S to be carried out by the relevant ¢Owordinators, Kelli8 Lowther and Andr•w Lloyd. with payments out to be made by Miko Jories This would then r81&888 some of the pressure on Bn"an and enable him lo carry on th updating the {l¢kbookS Accounting Package. It was agro&d that th8 ¢wrdinators Ul bo paid for any addit4Dnal hours work¥d during this ex8rcise At Ihis nt il was decaded that it would be on id881 opportunity to stroamlina tha invoiryng and pawnents procs$8es by going lo onllne banking, wlh all invoices sent el8ctronlcally by em8il and incoming paym&nl$ made direct into Ihe CoMty bank account. Thts process worked ?11 with an improv•m•nt in cash flow and reduced eo$ts for par, ink aTrJ postag8. This also priyjuced an environmental bènefit of reducing the eompaniès ¢arbon footprint thereby making it a m sustainabl• oryanisation. Access lo Quickbooks and Ihe comp8ny bank account were grantsd lo Ihe crdInatorS and Miko Jones wlich helped bulbj 8(xne rg3ilience into the system in3tÉ8d of thère being a single point of conts¢t. Th8re w85 also a rew•w of th• Finan(xal Authority Levels wSth c1&4r gui¢J¥line8 agreed for wh8n prior authori8atron was requlrad from the trustee5 for stepped levels of spènding Ilmlts, As part of Ihis proc•ss Peter Parsons developed a Cash Flow Forecast vthich now breakg doym inwrne and costs Into thè 4 Separate tr4Jsiness areas and can be used lo give a more in depth ÈnalyBi3 for the Financial R*pDrts to the br-monthty Truste0$ meen9$. 11 can also bo u$9d to m8kg more informed deci8ion9 on financial rnatteTS going forwards. Brian was thanked by tho trustees for his many years of dedicated service to and a small tc4(en of aFproclglion was presented to Brlan and hi$ wrf¥ Sug. Tho Company Registered Office has now be8n changed lo 45 High St. Haverfothest, SA8128P t•thlth 1$ thtr office of our accountsnts. Bwan and Buckland. All necèssAry parbos have been infomied. Page 1
PEIA8ROKesHIRE VOLUNTARY TRANSPORT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 In June. a replacement WAV NK218HV, a VW Caddy automatic wth an AutomotNe Group nV¢r910n. wos supplied by PACTO on an SLA Free Lease Agreement and was fundèd by Th& Motabilty Foundation. This was a r&placemenl for the vehicb WBIgBXG prewously supplied, and whh for varlous roasons, was found to bè unsL4itable for Ihe hmde V8TYaty of vthé8lehaits encountered by when operating the RVS County Cars WAV Sèrv. This is the first automatt¢ v8h¢ to added to th8 fleet and wll be of grggt b8ntrfft to both the volunteer and also when a hirer would prèf81. or 1$ on lIceed to drive. an automab"¢ V9hIe. PACTO Jso SUPled a new Peugeot Boxer Minibus RJ25AGU, again fvnded by The Molability FoundalSon, and cn a F Lease SW as a replacemgnl for tsntr of the older vehicles owned by PVT. At thks point of the oldèr MIn)S&s. 'Ruby Mnd Stacel, were sold and thè prOedS Cfedited to the W account. Pl conlinu•s to supF4y the quarterfy informlN?n to Tronsformalion Team to enabyo Ih8lr repNbng back to the Mbility FoundaOn. With the 8tea(Iy growth of It hos bec4Jme clear Ihal tho Qrgonlsatbnal structure may need revk¥win9 to koop pace wr ongoing 90vemara 8nd operational commitments. It wms agreed to approach The Cr8nfièld Trust who are a pro t)no consultsn¢y or98nisatson SpealIs1ng in charfty VKJrk. From on initial conls4b0n 11 vra$ agre8d that Peter Parsons would 198d thls process on behalf of PVT. Th• first stage of the procs5 WOS to eomplete a 'Joumey tts EXlIèn¢£. assessment vknich helped lo Ident the strengths and weaknesses within tt)tr organtsatlon and identify g3ps Ythere improvem8nts could be made. This thgn g8nèratsd a base line scor8 which could b& used to measure 8ny improvements made. A rnenlor w88 alloratsd by The Cranfiekl Trust and 1hg init181 frame¥rk was agreed. Unfortun8tdy. du& to numerous faclor3. induding 8om& $an¥)r slaff absences, il wa5 drfficult to achl8v8 the necessary tirn•linès for the prciect and f( w88 agre8d that tt should shelved until 2026 when there may te more capadty. Th8r& are however a nurllbw of Impr0mants already implefflented, espsclally around the fmanrAal proc898, whi¢h hav8 holp8d to fi1180me of thè 9aps id•nttfi8d. It Was agreed that sh(wld undergo a re-branding exercise which would h&lp to promote the organi8ati<)n and incrèase publlc awareness ol knho wo arè, and %Yhat we do, Kdlie Lowher was 8sked to lead this project and has to datè consulted th Web Adept lo design a new logo and strJp line gdditionBI promotional materia15. The now logo has tttn agreed by the tNstsos and th8 process is du8 to continuè in Qtr 2 2026 with a launch and rebrandiryJ of vehicles. PW hos always had a harmnious worklrKJ relationship wfh PACTO. In foct W in5tMJated the inception of PACTO os an organisation in 2012. Thare have recenuy been many disagr8èm&nts ond divergence of v8lue5 b8t%4•n the organisations and. fina Nonnan being ad.d by th& Board in Jurrf lo rtrsign hor posthon as a Trustee the PACTO Board. there was no other PVT Trustaè who wshod to )111 the va(3n¢y. It was unanimously agreed by PVT Tru8t88s to infomi PACTO that we no longer wishèd to be a member of the orgAnlsatth. Dis(#JssKJrffj continu6 on th& vghlcks supplied under the Fre& Lse SLAS. An In81 m•dng took place belNRen W and Dolon Teth, vtho are a larg8 Communty Transport Organisation oper8thng primarily in lh8 Ceredigion and Carmarthonshire rns. A presentation was given by Rod Bowen lo illu$lratè th8lr business model and lo comparè notes on working practice8 belwgn the h¥0 Organisatn8. It Was 8grèèd that rJuld develop a chjser working rèlth'onship th Dclen Toffi would b8 mutually bon•ficial for both OTgani5ètions. Further meetings were planned lor 2026. The AGM was h•ld vl8 T&4MS on 28th November 2025. P8r8orts present were Tin¥ Nomn- Chalr. Poter Scoblo- Trustsg, Naomi Reg6 - Truslaè. Slmon Jones - Tnjstee. Petèr Parsons Trustee, Kelli8 Lowther -Trustee. Mike Jones Admln. Andrèw Lloyd - Fllecsi Co-c¥dlnator. Dgbbie Johnson- PCC, Rhys Richards- PCC, Mwgorate Vickery-Advisor. Apologi•s SIrnc Rl¢k8rd RVS. The minutes of th8 preOu$ AGM wèrè prcwised as a truè rn¢ord by Kfjlll& Lcpmher Secoled by Naorni R. The Chaimans Report of tha prevlous meeting werè aee•pt•d gnd proposed by Peter Parsons and seconded by Kelle Lowther. Ehctlon of Trust••s. Peter Scoble- Proposed by Kèlli8 Lowth8r- seconded by Naomi Re8s. Agr•8d unanimcusly Kdlie Lowlher- proposed by Naomi Rees- secondèd by P•tsr Parsons. Agreed unanimously Naomi Re8s- proposed by Mna Norman- saeonded by Simon Jones. Agreed unanimLiusIy Swnon Jix)•s- proposed by Kellie Lovthèr- S8nded by Naomi Rees. Agwd un8nlmously Peter Parsons- PTOPQSgd by Naomi Regs- seconded by K911ie Lowther. Agreed unanimously Pago 2
PEMBROKESHIRE VOLUNTARY TRANSPORT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 202S Appointment of New Chalr Peter Parsons agreed to stand as intèrim ehair on the proviso that a new chair was Mcrurtod extemally. Prowsed by Tina Nonnan . seconded by Kollia LovAher. Agr8&Y unanlmously Tina Noman tendered her offlclal resignation as Choir. She th8nked the trustegs for giwng her the opportunity to sèrye thts organlsatlon 8nd related to that ol a tree. wtrth mony different brBnthgs which all requir8d watering and nurtuiing. Peter Parsons offw8d thanks to fina for her years of to and aL80 lo Braan Hough had recently retlred duo to ill hgallh. Approval of IndOndant Examln• 11 was 8gMd lo continue to UBe Bevan and BLK4(land vtho h8d been tho Indopondent EyamineTS for P since it first camè into being. Applieation ol SU1 P&tèr P8r8ons suggested thal the prewous years surplus should b8 allocated lo the rebranding ex8rcis•. This was prow)s8d by K¢llio Ltswthef and 8econded by Naomi Rees. Closlng Statsments Peter Parsons lald out a broad ag8nd¥ for tho first three months of the rW year and it was 8grggd Ihat Tina Norman hDukl r•maln in an advi80ry cap8city along ¥Mth Maoarate Vick8ry, both hawng the benefit of many yoars of eXrIne devaloping PVT from il's humble beginnings into the organisation that w6 seè today. Debbie Johnson also offored har thanks to Tina and Brian on behalf of PCC and Sald th8t sha w88 looklng foThvard to working vLh thè now Tèam going forward. Obl•¢tlv•s and alms Pembrokeshire Voluntsry Trxn3POrt exists lo provide relief to thè inhabitants of P•mbrok8shire and its enwrons, who hav8 need because of age, mental or physical di¥ability. tsr poverty. mothers wilh young childrtrn or living in Isolated areas gre there 18 public tran8POrt faalites and in particular bui not 80 a8 to limit the generaltty of the lomgolng-_ To prowdo and mainl8ln non-profit ctsrnmunity transFOrt services. and To assist the charitable work of organisatlons and bodies engaged in promoting the reli•f of such persons through tho prowsion of appropriate serytces. Publlc bgnefit The Trust8es havo had du8 r8gard to Charity Commission guidance cffj Publlc Benofit and Ihl$ annual report of Ws 8th¥e8 clearty demon8trate that these objects ar& balno fvlly met. We continue to prowde both 8 range of comwnty tran5POrt services in a number of waB to m88t the neods of P8mbrok¥$hir¥ inhabitsnts identffied in the objects. Bnd to seek ways of providin9 similar seNeès In nw area$ lo meet the needs of other inhabitsnts. ACHIEVEMENTS AND PERFORMANCE Charltable actIvle8 Wè continue ilh thè provI$n of group transport services thrOh¢jt Pèmbroka$hlrg. R•prns•ntstlon PVT continues to r8pr8sent the interest of communtty grr)ups and indiv(dual$ within th? Pembrokeshire areg, 8skwéal(y those who 8xperienee problems ith normal tran3POrt facilits. FINANCIAL REVIEW Prlnclpal funding sourc•s Total funding ¢S1¥d was £298.17712024 £311,218) and SOurceS &yp8nded sjurfng lh& yè8r 8mounl to £308,033 12024 £294.419I resulting in 8 deficit Of £9.858 12024 surplus of £16,799}. Total fvnd3 held as at 31 Dacambèr 2025 am(nI to £132.441 12024 £142,297) of which £132,33S 12024 £142,172) 1$ unreslrictod and £106 {2024 £1251 is rnstrict8d. We mly on hir8 costs from our ecc855ible MiniSe$ and Wheelchair Acc8ssibl8 Vehlcl&s. 8$ well as support frorn Pembrokeshire County Counul's transport d&partm8nl for our North West Pembrokeshire Fflescl SeM¢g and for providing acces8ible vehicles lo the Royal Voluntsry Servic8 Accessible County Cars Serva[. and from the South Wast Walas Bus Support Gran( to p our servw running. Wts aim lo keep our costs and charges at an affordable and sustaln8blè lèvel. Page 3
PEMBROIWHIRE VOLUMTARY TRANSPORT REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEMBER 2025 FINANCIAL REVIEW Reserve$ pg11 A reserves policy for the organisalion has be fomally agr¢ed, In Ilno with rocommended Frtice of thg charity CommissK>n. In currènt circumstances. the Boord recc¥Jnises the need lo malntsln adequate re8grvg3 for IhE org8ni5ation realisod through sound manag&m8nt of availabl8 resources, making sensibl8 FKovision for Ihg lulwe and to cowr any d8fidt in funds for actMti8s for which fulure fvnding may not be Secured. It is estsblished that the gen8ral raservès takè into aceount thra8 months, overheadslrunning cost8,' provision against th• 8k of fvnding 19 r8cLgimèd by funders., sufficient funds lo cover any d0Cit in reurceS for rgstrictèd projects or eore actlvtN8s that may not bo frjnded in fvture., suffirient worktng CaPlt81 to financ8 Cash flow shortfalls anticipated f any restricted project or programme and suffld8nl fvnds to tyJikl up 8 r&seNe to cover replacem8ni of vohicles. Th8 organisation's required level of fyservo$ 1$ £90.0(Xl. Th8 level of r8serves is catwlaled 8nnu811y in order thAt th• Board can establish an appropriat• ltrvsl of r•9ÈMs for thè eoming yaar. STRUCTURE. GOVERNANCE AND MANAGEMENT Govgrning docvmant The charity is controlled by ils govemFrg docurnent and conslrtuies an incorporated charity. limited by gu8r8nteè, as definèd by thg Comp8nw Act 2¢)06. RecThitment and 4ppolntrn•nt of trust$ Management Qjmrnittee mernb8r$ 8r* èlactsd Ind191 gt tho Annual Genoral Meoung. Only dIvidual Mem[¥ of thè company or r¥on8 nominBted by organisolions which are members may st8nd for eledion for lh& Managèment C(¥nmitlo&. Organi•atlonal stru¢tur• Mr P Parsons - Inlgrim Ch4Ir¢)n Mr P SrxJble- Trustéo Mrm Jongs-Admin Mr S Jones- Trustee Miss N Re8s- Trustee MrA Lloyd- Ffl•su S$Nc• C04Ydinator klrs K Lcwther- Trustse I Wav Cctrordinator Mr T ReOIdS- Driver Mr M James - Drfver Mr C Payne- Driver Mr P Harv8rd- Drwer Mr D maed- Relief driver Mr K Jame8- Reliefdriv8r Inductlon and tr•inlng of new trustw¥ Trustees follow an inducty'on programm8 a5 rec4)mmendl by the Charity Commission. Trusts8s 9tt8nd training ccyjrses provided by PAVS bthere appropriate. R•lal•d partlfr8 Al thos8 charged with govemonce (director8 or Iru81e8s}, key managoment Pgrsonnel and any IndIdual or entlty thot ha8 Control ol the charlty as well as thdr spouses, domg$tic partners and d8pendents ar8 related parties. Rdated party transactions are detsiled in Nots 12. REFEREt4CE AND ADMINISTRATIVE DAlL3 Registered Comp•ny numb•r 03865537 (England and W810s) Regl8tsred Charlty number 1078690 R•glst•r•d offle• 45 High Stre8t H8verfordwèst P•mbrokeshire SA612BP Page 4
REPORT OFTIIE TRUSTEES FCII ThE YEAR ENDED 31 DECÉMBER 2025 P Sccèfe trB T Noffl)on (rowg 28.11.251 SRJoMs MB N R8È8 P O Parno¥ M¥KDLott Y S l•)wnled 4.2261 Indyndent ExAnn•r un Evns FCA Bwan Burand LLP 45 Strsot Hoverlord¥wst P8Mbrok•m SA612BP ThiB rgport has been aCran the speckil pro¥lthn8 of Part 15 01 the Compwnw8 Act 2008 rnlaurwj to $m811 oynponle& Approwd by of the brrd oftrustw o J.91.0.4126..................... and $lgrd on it6 btholl by. Paterth¥errfergM*(ApF.14:.èJQ6QS'.t4:.24.GMknIb.... P O Pwson8. TN8t•e 9•5
DEPENDEMT EXAMIMER'S REPORTTOTHE TRUSTEES OF PEMBROKESHIRE VOLUNTARY TRSPoRT Independ•nt •xamkn•rts ryrtto Ih•tnthts• P•nbFDk••hlr• VoluntryTr•Mportnh• C(¥ryMn l ty) ¢h•rtylnMtst)n my exanlnallon ofthe ofthe CnY10rth8 orJd•d 31 Da¢•mW22S. Rwpon•lbHltl•s and bo•l• of r•port s thè eh#ritys tru#taas ofth• Crmpany {and aso dlr•ctorB for IP• pUrF1 of law1> arB rnspQnb1ty lor I pr•pwaYon of Iho act015 kn AwrdaK• 4th the r•Wr•meth dthe Compank8 Act rtt 2006 hLt?. 8etiBfied myBdf that Iho a¢ts ofthg CIMn¥ arn Tr)t r•qulred io t• audrtod der Port 16 01 tho 2006 and ar• dvjlble fgr uMkpertI examA1. l rnwt In rosFd ol my •yAmwiation of your aUrt8 as carrhd ¢)ut undw Sectlon 145 clthè Charltiès Ad 2011 2011 AEn. In wir¥J my wmlnalknn I have thg Dlr gN•n by ihe Charity C0nYnln under S•(on 14451 Ib) oftho 2011 A Ind•p•nd•nt •xamln•e8 8tat#m•nt Sinc• ycw chartys gp)4B Irm? excwll £250.OC41 jr eK4rninor Ix • mwthrof a lithd trhgty. I can eonfimi that I am wotlfted to dertak? o nNlJ8r ofthe 01100fchartofo Awt4nt8 In Engl •r•l Wakn. thlth1s OM oflhe listod bcrtlio¥. I h•v• compkted my èy£rnlnaOon. l cordlm) that no mthT¥ com• ) my att•rfon kn conrth Tllh th• 9Vrd m• (auso to 4c(¥)unUng rncLYds nDt kept in r08FCt ofthg 01 rnqdred bY811)n 386 of 2006 A¢ or 8 8¢counts do not accord wtth r•ccd8'. or thè Unts (kn not cornFly with the accounlng Taqulrement8 of 396 tsf thè 2rf6 olhgr lh Mqulrement th8t tha accthjnts a truo and fair l•w 18 nol a rnaltar cthsklwed as part of axAmlnalson' or thè 9¢Lts hBvo n¢A boon wepo¥ed In accord8nc& lth tr• m•llw)d8 ndpIeS of thè Ststwnert of ReTr818d Fr8de• ocMunting and reporting by ¢hwilies1oprAKa>l• lo tharitses weparing their a¢Unts In with th• Firthnd&l R•pullng Stsndard applicabkn kn th• LK RgpUbl of Irwland {FRS 10211. I haw no wrK¢m$ •rh4 hfi¥e ¢cmo 8$ no othor matters In nn0kIn th the wrninafjon to att•ntlDn slwld b• drawi h th18 reM In orderto enob A woper under81andlng oftho acCts b) be rOBthBd. un Ewan¥ FG4 B•van Bu¢*Fond LLP charter Acwnlants 45 Hlgh Streel Pembrokeshlre SA6128P
PEMBROKESHIRE VOLuKfARY TRANSPORT 8TAYEhlENT OF FIIIAN¢14L ACTivmE3 ONCORPORATING AN INCOME AND EXPENDrruRE ACC(XJNT) FOR THE YEAR ENDED 31 IEMeER 2025 Total fvnd8 8 reststfd fuwAIB nd8 Donalons and18gad88 1.151 1.151 30,525 Chrlt41I• actlvlll•s Comrnwty Tran8Wt 64.642 84.642 63.741 Olhertradlng •GIMi 232,884 232.384 216352 Totsl 2911TI 298,177 311.218 EXPENDITURE OM Rglsknu fund 14.833 14.633 ChAritsbKy acthil ComrwnltyTranswl 293.381 19 293.41JO 294.419 Totsl 3C*.014 19 30B.033 294.419 NET INCOMW(EXPÈITuREl (9.8371 (191 (9.8561 1(799 RECONCILiATIQN OF FUND8 Total lund8 brougm I00rd h8 pr¢V•JuBty rewted Prior r ¥dlu6trn•nt 130227 11.945 125 130,352 11,94S 126Ag8 142.172 126 142.297 125Ag8 132,335 132A41 142,297 Tho not6s fcfm part ol Ihu• ffinandal 6tat•nw Pag8 7
PElABRO1m1RE VOLvpifARYTRAPISPORT (REGISTERED NUMBEK. I13Bl 8TATEMEKf OF FIMANCL4L posmoN 310ECEMBER 202$ 2025 2024 Toi81 fwids nd$ fvnd¥ fiJTrJ8 TarvJik49 assets 11288 18.288 26MI CURREMT A88ET8 41.376 41.3T6 82.316 78.11 53I63 C88h 81 ba 123.585 1,651 131.918 CREDrroR8 Aot& duo lthln ong 10 19,5381 19,&78) {ISA02) NET CURRENT ASSETS 114.047 108 114,153 116.416 TOTAL ASSET8 LESS CURRENT UABiullE8 131335 106 132,441 142.297 ASSE 132.336 106 132.441 141297 11 132.335 141172 125 Re81rtd•d fijnth TOTAL FUNDS 132.441 142297 Th8 charitsble ccmpany gntillod trj •x•mpMon from undw so¢ti 47T Compan108 2008 lorlhg w•Jod 31 D•c•nw 2025. The nwmbera hava not TequlrBd Ihg compuny to obtaln an Aurfl of b finwAal 8latem8nts for the yew eThled 31 Docember 21J25 In aca>rdanco wlth Sqctlim 476 of th? Compwniu Art 2c. ThE Intsiees e¢knw)4dge thelr ro8poMiilth•# for {91 •nswing Ilb3t the mmp•ry aL¥AmUng reeorth that Sqc15ons 386 387 of lh• (bl PT•parfng flnanclal stat•moniB grve o true and fvir vww of Ihe ¥tat8 of thaSrg of th• charfldAè r•ryny as al th6 end oleach ffinondal >wr and of fa SurylL or defiryt frJr 8B¢h y•8r kn accord8ncg tIKI rqwr8merts of Secllons 395 nd otheM#è ft4nply V+ilh th r•qulr•m•nts of the Cornpenles +ld 2006 to ffinanCI steternlS, BO far as aPIcabt9 thg charitabkn coThwny. Th888 ffinandal 6tstomonts bogn prepwBd n accordan *ith tho Fmi8KmS •pplk4bl• to dwrtable com1188 sutlectto cory8nlg$ roglm Th9 )Inendo1 slatrrMts ppproved by th8 Bowd of T arxl Tra8u• on ............................................. and wern silmed on it8 t¢haff by. 21 14 24 GMT+11 P O Pw8on8- TFUg1•• The nrtsB form dthBseffinBnolql Statw Pago 8
PEMBROKESHIRE VOLUNTARY TrANSPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POUCIES Ba$ls of pr•parln9 tho financlal stst•m•nt• The financial statements of thè charitaNe company. vthlth is a public benefit onty under FRS 102, have b89n pr8p8red in oceordanee with the Charilies SORP {FRS 1021 'Aeeounting and Reporting by Charilies.. Statement of Recommendad Practic8 applicable to ch8rikn'e8 preparing their accounts in accordance wth the Finanaal R8POrting Standard applicable in th& UK and Republic of Ireland IFRS 102} laff&th"vè 1 J8nu8ry 20191.. Financial Reporting Standsrd 102 The Financlal Reporting Standard appli<E In the UK and R8public of Ireland, and th• CL¥npanies Act 2006. The financial statements have been preparèd undér th8 historical cogt convention. Flnancl•l rgportSng standard 102- rU¢•d d18clo8ur• x¢mption6 The charitable company has lak8n advantage of the follovAng dlsclosurè 8x8rnption8 in prep8ring 1h8se financKel $tat¥mgnts, as permitted by FRS 102 The Finanelal Réporting Standard 8pplic8ble in th8 UK 8nd R8publi¢ of Irelond.: Iho r8quimm8nts of Section 7 Stalgm$nl of Cash Flows,. the Tequlrement of parègr8ph 3.17{d).' thg requirements of paragraphs 11.42, 11.44. 11.45. 11.47, 11.481aMllil. 11.48lallfv). 11.48(bl And 11 A81¢1', the rèquirements of paragraKths 12.26, 12.27, 12.29(al. 12.29lbl and 12.29A'. thg rewirgmgnl of paragraph 33.7. Incom• Income is recognis8d an Ihtr Ch3rity has eniiti&m8nt to the funds. ony performan¢# conditions attached the the itsm {sl of Income have been met. li is prob8ble that th8 incom• will be rec8lv•d and th¥ amount can b& mèasured rellably. Where irwme has relot8d ayponditvre las wth fundraisbng or eontract incomel the income and rdat•d •xwditure are roported gro89 in tho Statam•nt of Financial advib&$. Donations and grants are recognis8d vth&n rg¢eiwable. In Ihe evant th81 a donation 15 subject to fvlfilling perf0mce conditions bOr8 the Charity is entitw to the funds, th& incomè 15 deferred and not recogni8 until i t is probable th81 Ihe that thosa l¥jitIonS will be fulfilled In tho rting period. Interest on d8posts hgld is included vknen r8¢8iv8ble and the amount Can b• mèasured rellably by Ihe Charity whieh 18 nornially upon nots'ficotion of the interest paid or by tha bank. Expendiiur• Al expenditure is 9)unted for on an 8eeruBls basi8 arbj has ba eLsifi8d under ading5 that aggregat8 011 cnsts related to th8 rategory. Where costs cannot be directly attributèd to Partkular headings they have been allo(xted to activities on a basls nlstent wrth the usè of thè resources. Support costs are mède up of administration and managernent, finance cos15 and gov&mance costs. Govemanc£ costs are those costs incurred in CoMectiC wth tha Ix>mpllance wth constitutional 8nd statLJtory rèquirÈm8nt$ of thg Ch8rrty. Tangible fixed ass•t$ Tanglble fixed assets arè stated at cost less accumulatsd d8precAation. D•pr8Ci81ion is provid•d to 11? off the cost lèss gstimated residual valu• of tsngible fixed assets by equal in$lalmenls over their estimatsd usefijl econom1¢ live8 as follows.. Plant and machinery Motor vehic8 15% reducing balancè 20% on cost All fix assets a held lor continuing use in the charitys adiwti8s and ar• r8eorded al cost at thg time of acquisition. Taxatlon The company is considered to pass th8 tgsts set out in Paragraph 1 Schedule 6 of Ihe Finance Act 2010 And therefor8 m88ts th& definition ol a Charitab ccnpBny for VK corporation tax purposes. Pao8 9 ¢orfnued..
PEMBROKESHIRE VOLUNTARY TRANSPORT NOTES TO THE FINANCIAL STATEMEPITS- eontlnugd FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POUCIES • tonllnu•d Fund accountino Unrestricted fvnds are incoming resources ¢1¥•blO or generated for th9 okyects of the charity ythoUt further Sp8c#rd pulp0 4nd Are available a8 gen8rBI funds. Restricted funds can onty be u¥ed for particular restrictsd purposes wthin the objects of the charity. Restrictions arlse when specified by tho dor or when funds aro ralsgd for particular rg8trictsd purposos. ENnd1bJr8 which moets these criteria is char98d to th& fund, tOgeth8rwlh a fair allocation of management ond support Costs. Design¥l¢d fvnds aro Jnds garrn8rk•d by tho Ite86 for a Plul8r purposes. Thèy ar& not restricted and mako up tha unrestricted resem$. Further explanation of the nature aThJ purpose of èach is included in the notsg lo the financial 8tatomènls. P•nslon costs and oth•r pOstttIrement bgnrfits Th¢ ¢h8ritable company operatès a deffined contribution p9n8kJn scheme. Contribubons payable to th8 ch8ritabl8 Companys pension schem• are charged to the SIAt8m8nt of Finana81 Actiwties In the period to whlch Ihgy rolate. Preparatlon ofth• accounts on a 9olng CoeM b0 Tho Irust8•s hove considered the financial performance of thè Charity for the foresg0gble fubJr&. in particular. the next 12 to 18 months and are confident that the Ch8rty is a going corKem. D•btor• Trade and other dèbtors are rew3ni58d St the setuement amount due. Prepayments 8ro valued at the amount ppaId net of any discounts du&. Accrued incomg is in¢lLvJgd at best estimalg of th• amounts receivatrAe at lh• balance sheet dats. Cah and cash •qulval#nts Cpsh aThJ cash equivalents comprise cash in hand and demand deposits th81 are roadlly convertibk to a kntr*n aTrK)unt of cash and are subject to an insignfficant risk lo ¢hang•s In value. Crndllors CrwJilof$ aro racognised ere the Charity has a present obliy8lion msulting from 8 past event Ihal will probably result in the transfer of funds to 8 third party arKI the amount du8 to selug tho obligation can be measurod or estimated reliably. Credilgrs Ar• nomialty Tecognissd at th•ir settlement amount 8ft8r allwng for any trod& dlsccMJnt8 due. Finaneial Instruments Thg Charlty only has financial assats and flrAni¥al li8blitl&s of a that qualify a5 bosic financkql inslnjmènts. Basic finanryal in$trumenis are initially reex)gnOsed at transactK)n v81ug and sub5eqntty m¥8$urgd ot thelr 5etllemenl value. OTHER TRADING ACTMTIES 2025 2024 os restated Liv8 lfjlomètre Support Grant PCC Dead mileago grant Vahid8 hire chary Miscellaneous income lecsi bus ¢(rdinatOr SLA School bus service 15,181 11,518 205,685 16.191 11.945 178.910 3,420 8.482 232.384 216,952 Pag8 10 ccntinued...
PEMBROKE8HIRE VOLuKfARY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS - eontlnu•d FOR THE YEAR ENDED 31 DECEMBER 2025 NET INCOMEI{EXPENDrrLIREI Net income11exlIture) 18 3tated after Chargin{cradlng)". 2025 2024 88 rest8t8d D&precption- ovm8d assets Surplus on dlsposBI of fLxed 8SSèt$ Ind•pèndt exaMer$ fee linc VAT) 7.593 18,5001 2.367 7,625 2,274 TRUSTEES. REMUNERAnoN AND BENEFITS 2025 2024 as restat8d Trustees, salBng8 6,758 TN•tr••s' •xp•ns•s 2025 2024 os reststod Tw8tees' eyp8ns8s 382 371 Payments were made to trust99$ to T¥imbuTse expenses incurre(l on behalf of the charity. STAFF COSTS The av8r8ge monthjy number of employ88$ during the year was as folbw8: 2025 2024 as restated Drlvers Company 8g¢xetary Project CD-ordinBtor Minibus Cwdlnator Acxessible Cars Co-ordln8lor 10 No employ888 rèeèived emolurnenls in excess Df £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNMES Unr881ricted funds Restrt•d funds Total funds as restBt8d INCOME AND ENDOWMENTS FROM Donations and legades 30.525 30,525 Charltable a¢tlvltl•# Community TranBPOrt 63.741 63.741 Oiher trading ac11wtS 216,952 218,952 Total 311218 311,218 ExPENDvRE ON Pag8 11 continued...
PEMBROIESHIRE VOLUNTARY TRANSPORT NOTES TO THE FINAMCIAL STATEMEKfs - contlnu•d FOR THE YEAR ENDED 31 DECEIABER 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNmES- corrtinu•d Unr8Stricted lunds Rostricted funds funds as restated Charitablo activi•* CommLtrnity Transport 294.396 23 294.419 NET INCOMEIIEXPENDrruREI 18.822 1231 16.799 RECONCILIATION OF FUKDS Totsl funds brought fornrdrd 125.350 125.498 TOTAL FUNDS CARRIED FORWARD 142.172 125 142,297 PRIOR YEAR ADJUSTMENT The prior period adju8tmenl in tho 2024 accounts is 8 resum of an undgrstotgment of IrKome and debtors In lh8 pyior year. IncLJme was underststsd by £11.945.. TANGIBLE FIXED ASSETS Flant and machlnery Mott Totals COST At 1 January 2025 Disposals 12,374 60,240 123,245) 72.614 123.2451 At 31 December 2025 12.374 49.369 DEPRECIATION At 1 January 2025 Charge for yg Eliminat1 on disposal 11.090 35,643 7,399 123,245) 48.733 7.593 123,2451 At 31 De¢emb8r 2025 11.284 19.797 31.081 NET BOOK VALUE Al 31 December 2025 1,090 17.198 18.288 At 31 December 2024 1.284 24.597 25.881 DEBTORS: Ahiouiffs FALUNG DUE wrrHIM ONE YEAR 2025 2024 as r8statod Incoming resour du& other debtord Prgpayments and acuued inwm 29,063 4.622 7.691 49,545 21.206 7,304 41.376 78,055 Page 12 continued...
PEMBROKESHIRE VOLUNTARY TrANSPORT NOTES TO THE FINANCIAL STATEMENT8- eontlnu•d FOR THE Y&4R ENDED 31 DECEMBER 202S 10. CREDITORS: AMOUNTS FALLING OUE WITHIN ONE YEAR 2025 2024 Bs r8stsled Suppliers invoi¢8¥ payable Social security and olh8rtaxgs Other credrtor5 3,117 3.507 2,914 2.946 9,732 2.824 9,538 15,502 11. MOVEMENT IN FUNDS Prior year adlustmenl Net mov8mant in funds At1.1.25 31.12.25 Unrnstrlctod funds Pembrokeshim Vduntary TransF 130,227 11,945 19.8371 132.335 R•striet•d fundB swwCH 125 {19} 106 TOTAL FUNDS 130.352 11.945 19.8561 132,441 Not Ivement in funds. indud8d in the above are as follow5: Incoming resources Resources expended vernenl in lund8 Unrestricted funds Pembrokeshira Voluntary Trdnsport 298,177 1308.014 19.8371 Restrl¢t*d lunds SWWITCH (19} {191 TOTAL FUNDS 298,177 1308.0331 19,8561 ComparntiV•8 for mtyMn•nt in funds nw)vemènt in funds At 31.1224 At 1.1.24 Unrnstrlctsd fundg Pembrok&shire Voluntary Transport 125.350 16.822 142.172 R•strlct•d lunds SWWITCH 123) 125 TOTAL FUNDS 125,498 16.799 142.297 Page 13 ntinued...
PEMBROKESHIRE VOLUNTARY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 OECEMBER 2025 11. MOVEMENT IN FUND8 - conlinu¢d Cornparati n•t movoment in funds, included in the above aro as follows.. Incomlng rosourcgs ReSoUe$ e4D8nded Fknvèment in funds Unr•8trlthd funds Pernbrokèshir8 Voluntary Tr8nsport 311,218 1294.3961 16,822 Re¥trlctod fvnds SWWITCH 123) 1231 TOTAL FUNDS 311,218 1294,4191 16.799 A current year 12 months ond prior year 12 nKJnths combined pJsitsM 18 as follows.. Prior ygar Ilustsnent Net movement in fund$ At 31.12.25 At 1.1.24 Unrestrlct•d funds Pembrok6shir& VolunlaryTr8n5POrt 125.350 11.945 6.985 144,280 R•strlet•d funds SWWITCH 148 {421 106 TOTAL FUNDS 125,498 11.945 8.943 144,386 A ¢urrant year 12 mon1h¥ al prlor yyar 12 rronths (x)mbin8d 1 movement in fvr¥Js, SnclL*Jed in the ab)v8 8re as follows.. Incoming resouTtsS Rgsources expended vement in fvnd$ Unr•strlcted funds Pembrokgshire Voluntary Transport 609,395 602.4101 6,985 R•strIcd funds SWWITCH 142} 1421 TOTAL FUNDS 609.395 (602,4521 6.943 Pago 14 continued...
PEMBROKESHIRE VOLUNTARY TRANSPORT NOTES TO ThE FINANCIAL STATEMENTS - Contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 12. RELATED PARTY DISCLOSURES Thor8 re no related party transacllons for th& year ended 31 DrYthr 2025. 13. IAEMBER'S GUARANTEE The chaTIty is 8 privatè (x)mpany lirnited by guBrantee and consequen1 does not hovè sh8re capital. The liability of th¥ members in the event of liquidation 13 limited to £1 p•r M•Mr. Page 15
PEMBROKESHIRE VOLUNTARY TRANSPORT DAlLED STATEMEMT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 202S 2025 2024 as restaled INCOME AND ENDOWMENTS Donatlons and l•gaci Donatlons Grants 1.151 525 30,000 1.151 30,525 Other trading actlvltlo$ Live Kilometre Support Grant PCC Dead mileagé grant Vehid8 hirs chargè Mi5cdlaneous income Fllecsl bus ctrordinator SLA Schc(I bus servi 15.181 11,518 205.685 16,191 11.945 176,910 3.420 8.482 232,384 216.952 Ch•rltabl• actlvltl•s Comrnunity tr¥nsport services Affili*ion fègs Employ•rs allowance .142 58,036 705 s.0 10.500 64.642 63,741 Total Sncomlng rnsoums 298.177 311,218 EXPENDITURE othor tradlng a¢tMtI•s Bad debts 14.633 Charltabl• actlvltle Wagas Pensims Telephone Postagè and stabonery Adv8rtlslng Trovel and subs13ter engs, confefyncas, events Tr8ining Subseriptions Vehicle running costs Miscellaneous expBn5•S Compul&r and softhre cthts Equipment repairs and renewals Plant and machinery Motor vehic$ Surplus on dlsposal offixed 58t8 151.024 3,048 1,431 481 2.017 150,739 2,819 821 761 635 2,911 64 54 600 120 105.739 1.845 40 113.023 1,054 688 1.571 226 7,399 7.399 18,500) 265.492 282.741 Support costs This pag& does not fomi part of th8 8tatuloryfin8nc4g1 statements Pago 16
PEMBROKESHIRE VOLuTrrfARY TRANSPORT DETAILED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR E14DED 31 DECEMBER 2025 2025 2024 as restated Support costs Managoment Trustees, salarf8S Tru$tees' expenses ProfgssK)nal fees Insurone 20,900 382 5,576 1,050 6.758 371 3.570 979 27.908 11.678 Ttstsl resources expend8d 308,033 294.419 Net 1expendFtur•lnCQrn (9.8581 16,799 This page do8s not fonn part of lh6 stslutory financial Statnents Page 17
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